As of November 26, 2012, there were 66,622,075 shares of Shaw Group Inc.
("Shaw") common stock outstanding.

As previously announced, Shaw is holding a special meeting of its shareholders
to approve its previously announced definitive merger agreement with Chicago
Bridge & Iron Company N.V. ("CBI") to acquire Shaw. The meeting will be held
December 21, 2012, at 9 a.m. Central time at Shaw's headquarters located at 4171
Essen Lane in Baton Rouge, La. Shaw's shareholders of record at the close of
business Nov. 30, 2012, will be able to vote on the merger proposal.

Shaw cannot complete the merger and shareholders will not receive payment unless
the merger proposal is approved by the affirmative vote of the holders of at
least 75 percent of the shares of Shaw common stock outstanding on the record
date (excluding shares beneficially owned by "Related Persons," as defined in
Shaw's charter), as well as the affirmative vote of at least a majority of the
voting power present. Accordingly, as an example, if there is no change in the
number of shares outstanding prior to the close of business on November 30,
2012, the 5% ownership threshold for purposes of determining a "Related Person"
would be 3,331,103.7 shares of Shaw common stock. In order to ensure that your
and your affiliates' shares are included in the calculation of whether the
Supermajority Threshold for approval of the Shaw Transaction Proposal has been
met, you should monitor the number of shares you beneficially own, in the
aggregate, as of November 30, 2012, to ensure you do not meet the 5% ownership
threshold on such date. In determining whether or not you are a "Related
Person," you should be aware that you will be deemed to beneficially own Shaw
common stock if you have a right to acquire Shaw common stock pursuant to any
agreement, or upon exercise of conversion rights, warrants, or options, or
otherwise, as well as in other circumstances described in the joint proxy
statement.

In connection with the merger, Shaw shareholders will receive approximately $46
per share in cash and stock ($41 in cash and .12883 shares of CB&I common
stock). This represents a 72 percent premium to the price of Shaw shares
($26.69) at the close on July 27, 2012, the day before the merger agreement was
announced.

Shareholders should be aware that not voting will have the same effect as a vote
against the merger proposal. Shareholders are urged to vote by Internet, by
telephone or by completing and mailing their proxy cards.

If you have any questions or need assistance voting shares, please contact
Morrow & Co. LLC at 800.607.0088 or 203.658.9400.

Important Information For Investors And Shareholders

This communication does not constitute an offer to sell or the solicitation of
an offer to buy any securities or a solicitation of any vote or approval. In
connection with the proposed transaction, Chicago Bridge & Iron Company N.V.
("CB&I") filed with the Securities and Exchange Commission ("SEC") a
registration statement on Form S-4, declared effective by the SEC on November
20, 2012, that includes a proxy statement of The Shaw Group Inc. ("Shaw") that
also constitutes a prospectus of CB&I. Shaw and CB&I began mailing the
definitive joint proxy statement/prospectus to shareholders on or about November
20, 2012. CB&I and Shaw also plan to file other documents with the SEC regarding
the proposed agreement. INVESTORS AND SECURITY HOLDERS OF SHAW ARE URGED TO READ
THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS AND THE OTHER DOCUMENTS THAT
WILL BE FILED WITH THE SEC, WHEN THEY BECOME AVAILABLE, CAREFULLY AND IN THEIR
ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
TRANSACTION. Investors and shareholders will be able to obtain free copies of
the joint proxy statement/prospectus and other documents containing important
information about CB&I and Shaw, once such documents are filed with the SEC,
through the website maintained by the SEC at http://www.sec.gov. Copies of the
documents filed with the SEC by CB&I will be available free of charge on CB&I's
internet website at www.cbi.com under the tab "Investor Relations" and then
under the tab "SEC Documents" or by contacting CB&I's Investor Relations
Department at 832-513-1200. Copies of the documents filed with the SEC by Shaw
will be available free of charge on Shaw's internet website at www.shawgrp.com
under the tab "Investor Relations" and then under the tab "SEC Filings" or by
contacting Shaw's Investor Relations Department at 225-987-7372.

Participants in the Solicitation

CB&I, Shaw, their respective directors and certain of their executive officers
may be deemed to be participants in the solicitation of proxies from the
shareholders of Shaw in connection with the proposed transaction. Information
about the directors and executive officers of Shaw is set forth in Shaw's proxy
statement for its 2012 annual meeting of shareholders, which was filed with the
SEC on December 15, 2011. Information about the directors and executive officers
of CB&I is set forth in CB&I's proxy statement for its 2012 annual meeting of
shareholders, which was filed with the SEC on March 22, 2012. Other information
regarding the participants in the proxy solicitation and a description of their
direct and indirect interests, by security holdings or otherwise, will be
contained in the joint proxy statement/prospectus and other relevant materials
to be filed with the SEC when they become available.

Cautionary Statement Regarding Forward-Looking Statements

Statements set forth in this communication that are not historical facts,
including statements regarding future financial performance, future competitive
positioning and business synergies, future acquisition cost savings, future
accretion to earnings per share, future market demand, future benefits to
shareholders, future economic and industry conditions, the proposed merger
(including its benefits, results, effects and timing), the attributes of Shaw as
a subsidiary of CB&I and whether and when the transactions contemplated by the
merger agreement will be consummated, are forward-looking statements within the
meaning of federal securities laws. The words "believe," "expect," "anticipate,"
"plan," "intend," "foresee," "should," "would," "could" or other similar
expressions are intended to identify forward-looking statements, which are
generally not historical in nature. These forward-looking statements are subject
to numerous risks and uncertainties, many of which are beyond the companies'
control, which could cause actual benefits, results, effects and timing to
differ materially from the results predicted or implied by the statements.

These risks and uncertainties include, but are not limited to: the failure of
the shareholders of CB&I or the shareholders of Shaw to approve the merger; the
risk that the conditions to the closing of the merger are not satisfied; the
risk that regulatory approvals required for the merger are not obtained or are
obtained subject to conditions that are not anticipated; potential adverse
reactions or changes to business relationships resulting from the announcement
or completion of the merger; uncertainties as to the timing of the merger;
competitive responses to the proposed merger; costs and difficulties related to
the integration of Shaw's businesses and operations with CB&I's business and
operations; the inability to or delay in obtaining cost savings and synergies
from the merger; unexpected costs, charges or expenses resulting from the
merger; litigation relating to the merger; the inability to retain key
personnel; and any changes in general economic and/or industry specific
conditions.

Shaw and CB&I caution that the foregoing list of factors is not exclusive.
Additional information concerning these and other risk factors is contained in
Shaw's and CB&I's most recently filed Annual Reports on Form 10-K, subsequent
Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other
SEC filings. All subsequent written and oral forward-looking statements
concerning Shaw, CB&I, the proposed transaction or other matters and
attributable to Shaw or CB&I or any person acting on their behalf are expressly
qualified in their entirety by the cautionary statements above. Neither Shaw nor
CB&I undertakes any obligation to publicly update any of these forward-looking
statements to reflect events or circumstances that may arise after the date
hereof.

Item 8.01. Other Events.

To the extent required, the information in Item 7.01 is incorporated by
reference into this Item 8.01.